Matthew Brassington is a busy IVA Case Administrator at Harrington Brooks. His role involves assisting the Insolvency Practitioner with the supervision of cases once an IVA as been passed. Matthew mainly deals with preparation of IVA variations.

Matthew says: – Working in the IVA department of a busy debt solution provider can be tough, but it also has its rewards. I can recall a recent client who called as she was struggling with her monthly payments, due to an increase in her outgoings. Here is her story-

All our IVA clients’ recieve the very best personal attention.
Mrs G originally contacted Harrington Brooks back in 2010 in an attempt to regain control of her finances. The client advised that she had been using credit for over ten years and the debts have gradually increased to over £13,000. Following a number of discussions with our IVA advisors, we established that the client could only afford £158 per month and approached creditors with a suitable IVA proposal.

Creditors agreed to Mrs G’ offer of £158 for five years and the client entered into an IVA in October 2010. Whilst in the IVA, the client came into some money and paid it into her IVA. Unfortunately, the client expenditure continued to increase, despite her income remaining the same.

Mrs G called in June 2012 to advise that she was struggling to maintain her payments into the IVA and asked if there was anything that could be done. I conducted a full investigation into her income and expenditure and determined that the IVA payment was now unaffordable. I then went through a number of options with the client and advised that the best option would be to see if the creditors would allow Mrs G’s IVA to finish early, as she had paid in additional funds.

The clients offer was sent to creditors to see if this was acceptable which creditors agreed to in July 2012. As creditors approved the offer, I informed the client that her proposal was accepted and her case will be closed in the near future.
Mrs G will not have to make any further payments into her IVA and once her case is closed, she will be debt free.

We understand that whilst people intend to see their case through to the end, if their circumstances change (sometimes for the better) we will explore all options with clients if things take a turn for the worse.